Riaz Haq writes this data-driven blog to provide information, express his opinions and make comments on many topics. Subjects include personal activities, education, South Asia, South Asian community, regional and international affairs and US politics to financial markets. For investors interested in South Asia, Riaz has another blog called South Asia Investor at http://www.southasiainvestor.com and a YouTube video channel https://www.youtube.com/channel/UCkrIDyFbC9N9evXYb9cA_gQ

Sunday, June 11, 2017

Comey Testimony; SCO Summit; British Elections; Qatar Crisis

What are the key takeaways from fired FBI Director James Comey testimony to the Senate about his interactions with President Trump? Will this testimony help or hurt President Trump? Will it lead to charges by Special Counsel Robert Mueller against Mr. Trump for perjury or obstruction of justice? Can the President be indicted? Will the President be impeached by Republican Congress?

What does the membership of Pakistan and India in Shanghai Cooperation Organization (SCO) mean? Is it a confirmation that India has failed in its attempts to isolate Pakistan? Will SCO leaders help defuse tensions in South Asia?

What caused the Gulf Cooperation Council (GCC) nations led by Saudi Arabia to isolate and blockade Qatar? What is the US position on the situation? How will it affect American troops and CentCom regional HQ located in Qatar? How will this affect Iran and the Gulf? Is there a risk that Pakistan will be sucked into this crisis?

Why did British PM Theresa May misjudge the public mood when she called early parliamentary elections? Will the outcome with reduced Tory representation hurt Brexit negotiations with the European Union? How many British Indians, Pakistanis and Bangladeshis got elected to the British parliament this time? Could they with their humble backgrounds have had similar success in their countries of origin?

Doha, Qatar - A Qatari shipping company is set to launch what it calls the fastest direct service between Doha and the Pakistani port city of Karachi this week, as the Gulf state seeks to establish new trade routes amid a land, air and sea blockade from its Arab neighbours.

State-run conglomerate Milaha is overseeing the weekly venture, with the first vessel due to arrive at the newly-inaugurated Hamad Port outside the Qatari capital on September 11 following a transit time of four days - compared to a normally six-to-seven-day journey.

"We have been vigorously ramping up our operations between Qatar and key Asian markets in response to growing demand from traders, importers, and exporters on both sides," said Abdulrahman Essa Al-Mannai, Milaha president and chief executive officer, in a statement ahead of the launch.

The move comes as Qatar counters economic sanctions imposed by Saudi Arabia, the United Arab Emirates (UAE), Bahrain and Egypt three months ago.

The four Arab nations severed all diplomatic and trade ties with Qatar on June 5 over allegations of supporting "terrorism". Qatar strongly denies the claims.

Prior to the dispute, most of Doha's shipments to and from Pakistan docked at Dubai's Jebel Ali port - a regional hub.

But with the Emirati port now out of bounds as a trans-shipment centre, Qatari companies are increasingly exploring alternative links to effectively penetrate the Asian market.

"We used to trade via Jebel Ali in Dubai, but because of the restrictions and the ongoing Gulf situation, we are now going direct so Qatar can capture Pakistan's market," Babar Rauf, sales and marketing manager of Rahmat Shipping, Milaha's Pakistani agent, told Al Jazeera.

Earlier in August, Qatar Ports Management Company, Mwani, also kickstarted its direct shipping line between Doha and Karachi operated by the Asian firm Wan Hai.

'Win-win'Milaha's new service, called PQX, will mainly bring perishable products and other food items, such as seafood, fruits and vegetables, from Pakistan.

The move by Turkey, Iran and Pakistan to increase bilateral trade with Qatar, following a Saudi-led blockade, has benefited all four countries, according to experts.

Saudi Arabia, the United Arab Emirates (UAE), Egypt and Bahrain cut diplomatic ties with Qatar and imposed a land, air and sea blockade on it on June 5.

Speaking on Sunday on the sidelines of the Gulf Studies Forum in Qatar's capital, Doha, analysts said the crisis has helped Iran, Pakistan and Turkey increase bilateral trade with Qatar, as well as open new commercial routes and strengthen political ties.

-----

Pakistan, which has historically held strong ties with all GCC countries, chose to stay neutral in the immediate aftermath of the blockade. However, its then Prime Minister Nawaz Sharif visited Riyadh in an offer to mediate between the GCC countries.

Sharif, who spent seven years in exile in Saudi Arabia following a military coup against his government in 1999, urged all countries to "find an early resolution to the impasse" in a statement issued from his office following his return.

However, the statement went on to reaffirm "the strong commitment of the government of Pakistan to the territorial integrity and sovereignty of the Saudi kingdom".

This subtle tilt towards Saudi Arabia was down to Sharif's long history with the Kingdom and its rulers, according to Zahid Shahab Ahmed, of Pakistan's National University of Science and Technology.

"Sharif has long-standing personal interests in Saudi Arabia. His family has invested heavily in the country while they were in exile there," Ahmed told Al Jazeera.

Sharif also relied on Qatari leadership in his fight against the Panama Papers corruption charges, which is why "Pakistan found itself in a situation where it was stuck in a fight between two brothers.

"It opted for the middle ground and it has benefited Pakistan's relationship with Qatar. There has been the opening of a direct trade route between Pakistani and Qatari ports, Pakistan has agreed to send more workforce to Qatar and the LNG agreement was already in place," said Ahmed.

Technorati

PakAlumni WorldWide

Odiogo Feed

About Me

I am the Founder and President of PakAlumni Worldwide, a global social network for Pakistanis, South Asians and their friends. I also served as Chairman of the NEDians Convention 2007. In addition to being a South Asia watcher, an investor, business consultant and avid follower of the world financial markets, I have more than 25 years experience in the hi-tech industry. I have been on the faculties of Rutgers University and NED Engineering University and cofounded two high-tech startups, Cautella, Inc. and DynArray Corp and managed multi-million dollar P&Ls. I am a pioneer of the PC and mobile businesses and I have held senior management positions in hardware and software development of Intel’s microprocessor product line from 8086 to Pentium processors. My experience includes senior roles in marketing, engineering and business management. I was recognized as “Person of the Year” by PC Magazine for my contribution to 80386 program. I have an MS degree in Electrical engineering from the New Jersey Institute of Technology.
www.pakalumni.com
http://www.riazhaq.com
http://southasiainvestor.blogspot.com